BOULOGNE-BILLANCOURT, France, April 19 (UPI) -- A French billionaire is threatening to take his art collection to Italy, citing inaction by local officials to build a world-class museum in France.
Francois Pinault, the third-richest man in France, offered $287 million to build the museum by 2005 to house his personal collection on the site of a former car factory on Ile Seguin on the Seine River.
Five years and $25 million later, however, Pinault has lost patience with the lack of progress by the Boulogne-Billancourt local council, which was undecided what should be done with 120 acres on the island not used by the museum.
"There are no concrete plans and no calendar," a project leader told The Guardian. "We can't open a museum in the middle of a dump."
Pinault likely will take his collection of 2,000 paintings, sculptures, photos and videos elsewhere.
Last week, Venice, Italy, officials approved Pinault's purchase of the Palazzo Grassi in a $55 million deal that gives him the right to double his exhibition space.
